A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

EU

8 35 AM

Must post a chart - its been bullish and above the LiTs but I have had to enter 3 times and leave 30% stakes on simply because the PA want to dump scalpers or weak bulls before further rises

Now its so near to 1400 as I type 1397 with any pullback staying above 1385 still a buy again

Will it be stopped at trying over 1400 next ??

 

[Forexmospherian]

UCad & Uchf

8 40 am

Both been weak and falling this morning with a weaker dollar evident

Whether this might change later on after the German red news release at 10 am - too early to say atm

 

[Forexmospherian]

8 41 am

EU at 1400 now

Lock more profit in

 

[Forexmospherian]

EU

First clues on sells are 93 and 83

Above both still scalp bullish but if we drop under 93 then it might only have supports at 85 to 90 area before a larger pullback

 

[Forexmospherian]

EA

8 46 am

Now made 5600 as well - ie a 85 pip rise after 8 00 am LO

 

[Forexmospherian]

Time rules

Basically my method is constantly reviewing the market every 30 and 60 mins

They are both important time intervals and why we have time windows 9 mins either side the hour and half hr change

Time rules on interim highs and interim lows basically in the old days - ie over 5-7 yrs ago were if a high or low is nor breached in 30 mins - it wont be until after 60 mins - and thats only if the market tries again and normally if a high or lo lasts 30 + mins it will reverse for next 30 mins or several hrs.

Today - well over the last 3 years the market makers have moved the goal posts - well the liquidity providers have - and so we can see new highs or lows after 33 mins or in exceptional cases even 37 mins

Therefore I try and wait over 30 mins to be safe and then I know the next 30 mins should favor reversals and if we make over 60 mins with no new high or low - then the price structure bias intraday could be changing.

Normally in a rally in FX every new high ( or low) will be breached easily under 30 mins - yes you might get the 5 or 10 or 20 pip pullbacks but back with a new level well under 30 mins

This helps is catching interim highs and lows - because time plays a key factor in FX

i will try and give examples during today

Hope this helps

F

 

[Forexmospherian]

8 57 am

My cut of on the EU now is 1396

Pullbacks staying above there are scalp buys again with price high so far at 1410/11

 

[Forexmospherian]

For 9 00 am - all 3 euro crosses could see pullbacks -

Only scalp buy again if we breach present highs by over 4 + pips

 

[Forexmospherian]

For 9 00 am - all 3 euro crosses could see pullbacks -

Only scalp buy again if we breach present highs by over 4 + pips

9 08 am

Pullbacks are scalp trades - but only if you are happy to have to pull a scalp at 3 or 5 pips if it does not carry on

For example the EA as now pulled back 23 pips from its high just before 9 00 am - whereas the EU is only around 10 pips net

Meanwhile EJ only similar to EU on pips

 

[Forexmospherian]

EU Chart prior to 10 00 am red news release

EU

1 min chart

Above LiTs area and bullish with first R at 1410 area

 

[Forexmospherian]

GU

Red news release at 9 30 am - approx 13 mins away

Since 9 00 am its been a scalp sell again and high as gone well over 30 and 60 mins with no breach

Its now under its Lits but this could be just a pre news set up

 

[Forexmospherian]

GU

7 43 AM

Before I pop out just update on GU prior to LO and news at 9 30 am which I will be about for


I have left 30% stake on a buy and have moved it up to 5347

Its is in a bullish bias but 5375 all the way up to 5400 is all R area - so might be difficult to crack prior to news - but then you never know - it might be pushed up to 5410 and then sold off after 9 30 am ??

GL and see you later guys and wtach out for any spikes at 8 00 - 8 03 am off opens

This is what I said over 90 mins ago##

We did not make over 5400 - but the move up as now seen a 90 pip fall all over last hr or so - so the sell off came pre news

Whether the news will be all buys - too early to say - but any bounce needs over 5340 again to be serious

Otherwise under 5335 and 30 - sell again

 

[Forexmospherian]

9 30 am

UK pound news and GU was at 5282 price area before a further 10 pip drop

Not convinced for now - but still in a30% sell anyway atm

Meanwhile EU as started to try and rise from 92 - but I think High will stay in place for abit longer

 

[FXWorx]

AU Short

Nice Short AU

 

[Forexmospherian]

9 34 am

Euro crosses

All out of sync now

EA made another new morning high - whilst EJ and EU stayed under last highs and have fallen more - in fact larger drops as I type

 

[Forexmospherian]

Nice Short AU

Nice one FXW

Yes AU is in sync with GU and EU - but while they fall the EA made another new morning high - manic last hour really

 

[FXWorx]

Nice one FXW

Yes AU is in sync with GU and EU - but while they fall the EA made another new morning high - manic last hour really

Yes GU slaughtered.

 

[Forexmospherian]

Time rules examples

Basically my method is constantly reviewing the market every 30 and 60 mins

They are both important time intervals and why we have time windows 9 mins either side the hour and half hr change

Time rules on interim highs and interim lows basically in the old days - ie over 5-7 yrs ago were if a high or low is nor breached in 30 mins - it wont be until after 60 mins - and thats only if the market tries again and normally if a high or lo lasts 30 + mins it will reverse for next 30 mins or several hrs.

Today - well over the last 3 years the market makers have moved the goal posts - well the liquidity providers have - and so we can see new highs or lows after 33 mins or in exceptional cases even 37 mins

Therefore I try and wait over 30 mins to be safe and then I know the next 30 mins should favor reversals and if we make over 60 mins with no new high or low - then the price structure bias intraday could be changing.

Normally in a rally in FX every new high ( or low) will be breached easily under 30 mins - yes you might get the 5 or 10 or 20 pip pullbacks but back with a new level well under 30 mins

This helps is catching interim highs and lows - because time plays a key factor in FX

i will try and give examples during today

Hope this helps

F

Examples this hr on EU / EJ - but not EA as that tested high under 30 mins

 

[Forexmospherian]

More red EU news next in 18 mins

Back just prior

 

[Forexmospherian]

8 52 am

GU

I was not able to take the high scalp sell at 8 09 am as was out at time

I joined in after 8 39 am as high had gone over 30 mins and so favoured lower - but I did nor expect such a fall before and after news

So far this pair as dropped over 130 pips after an initial 60 + rise from the EO

Certainly been a big mover today

Now supports from 5220 to 5250 area - quite a few to stop further larger falls

Its just lining one up next - maybe this TW ? but at what level - too early to say

EU news in 7 mins now